Construction tender prices on the way up - SCSITuesday 02 September 2014 14.52
Construction tender prices are continuing to increase steadily, following on from a moderate rise in 2013.
That is according to the latest index on construction tender prices from the Society of Chartered Surveyors Ireland.
The index shows that construction tender prices grew by 2% since the beginning of 2014.
The annual increase since the first half of 2013 is 4.4%, the survey shows.
Micheál Mahon, Vice Chairman of the Quantity Surveying Professional Group of the SCSI, said that construction tender prices have continued to increase steadily in 2014 and are now 10% higher since they bottomed out in 2010.
"This trend is likely to continue, and indeed it is accelerating slowly, as more confidence comes back into the market, bringing with it a modest increase in construction activity, particularly in the Greater Dublin area," he added.
Mr Mahon said that there are a number of very large projects such as Intel and the Corrib gas pipeline nearing completion.
These projects will release large numbers of workers back into the market, particularly in the specialist mechanical and electrical trades, which will maintain intense competition in the industry.